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It’s no secret that the video game business is extremely lucrative, with the industry recently valued at $178 billion.
Part of what has contributed to the gaming industry’s recent success is the GameFi sector, which makes up to $21 billion. GameFi, or gaming finance, is the world that merges digital collectibles with blockchain gaming. In a single day, Blockchain games account for nearly $12 million from over a million gamers, according to DappRadar.
One of the moments that spurred the GameFi revolution was the blockchain game Axie Infinity which gained popularity in 2020, creating opportunities forplayers to monetize their gameplay. Additionally, blockchain gaming empowers players by creating a more equitable relationship between players and publishers through supplemental income and increased governance abilities.
With web3 on its way to disrupting the gaming industry as web2 did in the 2000s, the industry doesn’t show any signs of slowing down. Part of the acceleration in GameFi is due to the success of MMO (massively multiplayer online games) and RPG (role-playing games). An MMO is an online video game with a large number of players, often hundreds or thousands, on the same server. In contrast, a role-playing game (RPG) is a genre of video game where the gamer controls a fictional character that undertakes a quest in an imaginary world, while MMORPG is the blending of the two worlds.
Method MetaGuild (MMG) aims to unite blockchain gamers worldwide through its gaming guild that merges blockchain gaming with esports, unlocking unparalleled opportunities to redefine the traditional publisher/player relationship and ensure gamers benefit as much as possible from playing in virtual worlds.
MMG’s vision is to shape a future where everyone in the metaverse is rewarded for their contributions and believes that community has always been the heart of the gaming ecosystem. According to its whitepaper, the platform strives to “champion competitive excellence, shape virtual worlds, and create opportunities for blockchain gamers, scholars, creators, esports players, and community members to be discovered and rewarded for their metaverse contributions.”
The platform is all about embracing and encouraging community and fixing the current model that exists between traditional game publishers, which is often fraught with disagreements over in-game monetization strategies.
MMG believes blockchain can help evolve this outdated and publisher-focused way of doing business, handing the power back to the end-users. “Not only do blockchain game publishers offer players enhanced governance abilities, but they have also established in-game economic ecosystems that benefit players and allow even casual players to generate supplemental income,” the company explains in its whitepaper.
The platform is operated by the professional esports organization Method—established in 2005 to create the world’s best World of Warcraft (WoW) team. Method not only achieved that incredible achievement and became the most influential team in MMO and RPG game genres. It has since provided a path and support for players to turn their craft into their profession, with many now top creators and competitors in their fields.
Fast forward to 2022, and the 17-year-old legacy esports brand is home to one of Twitch’s all-time most-watched esports teams. The tight-knit, passionate, and experienced team is committed to innovating, creating, and pushing esports entertainment’s boundaries further than ever. And make sure you learn more about MMG’s Scholarship Program.